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Gold/Mining/Energy : Lucero Resources
LCR 37.71+0.8%Nov 24 4:00 PM EST
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To: ziggy who wrote (270)10/19/1997 4:15:00 PM
From: keith massey   of 703
 
From recent research and talks with the IR.

1. They are more than 50km away from the Donner strike in Voisey Bay.
2. They will be drilling Alberta in early Jan
3. All other drilling projects will start early-mid next year
4. They have 12,300,00 shares out, 3.6 million in working capital + 250,000 shares MDR
5. Will announce the chile project within the next month. They will announce some initial good sampling results from chile with the release.
6. Insiders own about 1.5 million shares + numerous option set at a wide range of prices
7. VIN and (AAS and QTR) are not drilling near FGX until next early next year.
8. This is a definite Kaiser Dec Bottom Fisher pick. I expect other writers to follow suit.

I don't expect it to move either up or down more than .10-.15 until the end of December when the Bottom-Fisher report comes out and Alberta drilling starts. It may move a little on the news of the chile purchase and the sink back down again soon after. I don't know if the current share price will be effected by the normal December sell-off. If it drops I will add to my current position. What will the price reach next year? Realistically we should see at least $1.20-1.50 in Jan-Feb. After that it will depend on results, area plays (e.g FGX) and how much hype is generated.

Best Regards
KEITH
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